Business Directories

HC Brokerage cuts price target on Sodic

Cairo, June 20, 2012

Egyptian luxury real estate developer Sodic's profit is likely to be hurt by the cancellation of a land deal by a government authority, HC Brokerage said, cutting its price target on the stock by 6 per cent.

Sodic said in April that the New Urban Communities Authority had canceled Sodic's purchase of a plot for its Eastown project near Cairo.